Operational Risk & Compliance Manager at Britam

Job purpose

Management of operational risk of specific business line within the Britam Group.

Key responsibilities

• In conjunction with the Head of Operational Risk & Compliance, embed Operational Risk Management Framework within relevant business line;
• Responsible for the timely identification, assessment, mitigation, reporting and escalation of all identified Operational Risk exposures;
• Perform risk and control assessments across the business with specific emphasis on defining the risk, inherent and residual, assessment of the design and operating effectiveness of controls and the defining action plans to bring controls effectiveness;
• Conduct workshops with the business for risk and control assessments in the designated timeframe;
• Responsible for implementation and execution of Control Self Assessments, including determining relevant controls to be tested, sample sizes, agreed control standards and reporting outcomes;
• Responsible for recording and maintenance of all risks, incidents & issues with quality information in terms of data accuracy, completeness and timely resolution in BarnOwl;
• Root cause analysis are performed on all identified risk events (issues/incidents/scenarios) with recommended improvements to prevent these risk events from re-occurring in future.
• Performing a monthly reconciliation between the risk events reported;
• Monitoring the implementation of action plans to address qualified risks on the risk and control self-assessments, incidents  and  audit issues;
• Lead the development of  relevant key indicators  and associated appetite thresholds for your business line;
• Monitoring the implementation of action plans to address key risk indicators out of appetite.
• Analysing identified trends in the key risk indicators reported;
• Lead scenario development and stress testing exercises;
• Timely submission of reports to Head of Operational Risk/Governance manager, including and not limited to monthly status reports, Management Risk Committee reports, input to Board papers and adhoc reports;
• Chair Risk Committee Meetings per business line and ensure papers and minutes are circulated in a timely manner;
• In conjunction with BCM manager, perform annual BCP/DR risk analysis, planning, testing or live execution for your specific line of business;
• In conjunction with Compliance manager, implement compliance obligations, including risk and control assessment and support incident management related to compliance failures.  incident perform root cause analysis;
• Liaise with L&D to develop staff training programs that build operational risk awareness; and
• Perform any other duties as may be assigned from time to time.

Working Relationships:

Internal working relationships;

The Business Operational Risk Manager will be:

• Accountable to the Head of Operational Risk & Compliance Manager;
• Dotted line reporting to relevant CEO/Head of Business;
• Directly responsible for staff working under this position, where relevant;
• Required to liaise and work closely with the Department Managers and Unit Managers; Relevant business line & other risk colleagues.

External working relationships;

• Required to develop and maintain collaborative relationships with third party service providers to ensure quality and cost effective services are provided to Britam.

Knowledge, experience and qualifications required

• Bachelor’s degree in finance, business administration or related field;
• Accreditation in risk management is an added  advantage;
• 5+ years’ experience in risk management, 2-3  years should be in a managerial role;
• Operational risk management experience in insurance or banking sector is an added advantage.

Competencies:

Technical and functional competencies;

• Governance Risks
• Compliance reviews
• Business continuity
• Risk assessment strategies and techniques
• Risk management policies
• Scenario planning and sensitivity analysis
• Trend analysis on risk variables
• Risk mitigation strategies and indicators

Core competencies;

• Strong oral and written Communication skills
• Strong Relationship building skills
• Managing Change, Ambiguity  & challenge the status quo         
• Ability to execute strategy             
• Strong customer focus-internal and external
• Strong self-management and people development
• Strong problem solving capability